Share

9 Things You Need to Know About the Republican Tax Overhaul

By Samuel Smith, Deputy Managing Editor
Pall-bearers carry the casket of pop singer Whitney Houston to a hearse following her funeral service at the New Hope Baptist Church in Newark, New Jersey February 18, 2012. Houston, 48, died in a Beverly Hills hotel room on February 11, the eve of the music industry's Grammy Awards.
Pall-bearers carry the casket of pop singer Whitney Houston to a hearse following her funeral service at the New Hope Baptist Church in Newark, New Jersey February 18, 2012. Houston, 48, died in a Beverly Hills hotel room on February 11, the eve of the music industry's Grammy Awards. | (Photo: REUTERS/Lucas Jackson)

5. Estate tax threshold increased 

The bill also shields families with larger inheritances from having to pay an estate tax, "a tax on your right to transfer property at your death."

According to NBC News, the threshold to pay an estate tax after a loved one dies is just over $11 million for individuals and over $22 million for married couples.

Previously, the exemption cap was set at $5.5 million for individuals.

Follow Samuel Smith on Twitter: @IamSamSmithFollow Samuel Smith on Facebook: SamuelSmithCP

You’ve readarticles in the last 30 days.

Was this article helpful?

Help keep The Christian Post free for everyone.

Our work is made possible by the generosity of supporters like you. Your contributions empower us to continue breaking stories that matter, providing clarity from a biblical worldview, and standing for truth in an era of competing narratives.

By making a recurring donation or a one-time donation of any amount, you’re helping to keep CP’s articles free and accessible for everyone.

We’re sorry to hear that.

Hope you’ll give us another try and check out some other articles. Return to homepage.

Most Popular